In this answer, I will explain what is revenue stamp in detail. A revenue Stamp is defined as a receipt provided by the govt. in the form of an adhesive stamp instead of a separate document confirming that the fee/tax has been paid to the govt.
The receipt for the above amount needs to be acknowledged by the receiver that affixes and cancels the revenue stamp. The Indian Stamp Acts’ section 30 states that the recipient of the amount above Rs.5,000, is required to acknowledge the payment with a receipt that affixes Rs. 1/- revenue stamp on it as payment proof. If they refuse to provide such receipts with a discharged revenue stamp, then they might have to pay a fine of rupee hundred.
Indian Stamp Act’s Section 3 states that you are required to affix certain instruments/receipts and other documents with revenue stamps. According to Indian Stamp Act’s section 2(23), ‘Receipt’ is defined as:
“Receipt” contains any writing, memorandum, or note —
(a) that imports or signifies any such acknowledgment, and whether the same is or isn’t signed with any person’s name, or
(b) Where any demand or debt, or any part of demand or debt, is acknowledged to have been discharged or satisfied, or
(c) Where any other movable property is acknowledged to have been received in debt’s satisfaction, or
(d) Where any promissory note, cheque, money, or any bill of exchange is acknowledged to have been received
Revenue Stamp Price: A pack of 50 Revenue Stamps for Rent Receipts (100 Paisa) costs around Rs. 205 on Amazon. You can get it from your nearby post office for Re 1/-.
I hope now you know about the revenue stamp meaning as well as the revenue stamp use.
Find out where to get revenue stamp
Read whether the revenue stamp is required for rent receipt
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What is revenue stamp?
Mufti
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2021-09-21T17:18:53+00:00 2023-10-18T18:09:03+00:00Comment
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